- Author
- Li Zhao (Glorious Sun School of Business and Management (GSSBM), DongHua University, Tourism College, Shanghai Normal University, Shanghai, China), Chu Yujing (Glorious Sun School of Business and Management (GSSBM), DongHua University, Tourism College, Shanghai Normal University, Shanghai, China)
- Title
- Endogenous Institutions and Economic Growth: Evidence from China
Instytucje endogeniczne a wzrost gospodarczy na przykładzie Chin - Source
- Nauki o Finansach / Uniwersytet Ekonomiczny we Wrocławiu, 2020, vol. 25, nr 1, s. 54-77, rys., tab., bibliogr. 19 poz.
Financial Sciences / Uniwersytet Ekonomiczny we Wrocławiu - Keyword
- Instytucje, Dyskryminacja, Alokacja kapitału, Wzrost gospodarczy
Institutions, Discrimination, Capital allocation, Economic growth - Note
- JEL Classification: E13, E60, G32
streszcz., summ. - Country
- Chiny
China - Abstract
- W artykule zbadano wpływ instytucji gospodarczych na akumulację kapitału w sektorze prywatnym przez sektor finansowy, a także cele działalności gospodarczej firm o zróżnicowanej strukturze własności w ramach socjalistycznej gospodarki rynkowej na przykładzie Chin w odniesieniu do neoklasycznej metody wzrostu gospodarczego. Autor stwierdził, że instytucje gospodarcze były głównym czynnikiem wpływającym na efektywność alokacji kapitału pomiędzy sektorem prywatnym a państwowym. Badania sugerują, że prywatne firmy starają się zatrudniać specjalistyczną kadrę w celu ulepszenia instytucji gospodarczych, aby zastąpić kapitał polityczny. Biorąc pod uwagę, że strategia reformy chińskich instytucji gospodarczych miała skalę ogólnokrajową po przeprowadzonym regionalnym projekcie pilotażowym, autor stwierdza, że reforma instytucji gospodarczych w regionach miała istotny wpływ na wzrost gospodarczy.(abstrakt oryginalny)
The paper examined how economic institutions affect capital accumulation in the private firms sector through the finance sector and the operation objectives of different ownership firms in a socialist market economy with Chinese characteristics, which extended the neo-classical economic growth method. The Author found that economic institutions were the main factors affecting the efficiency of capital allocation between the private sector and the state-owned sector. Compared with the state-owned sector, economic institutions lead private sector to a decrease in loans and government subsidies through finance sector, and to an increase in its production costs. The evidence suggests that private firms make efforts to hire special human capital to improve economic institutions as a substitute for political capital. Considering that the strategy of China's economic institutions reform was a national promotion which followed after a regional pilot, this paper found that the economic institutions' reform pilot areas had a more significant impact on economic growth.(original abstract) - Accessibility
- The Library of Warsaw School of Economics
The Library of University of Economics in Katowice
The Main Library of the Wroclaw University of Economics - Full text
- Show
- Bibliography
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- Cited by
- ISSN
- 2080-5993
- Language
- eng
- URI / DOI
- http://dx.doi.org/10.15611/fins.2020.1.05